Originally posted by fiisch
View Post
- Visitors can check out the Forum FAQ by clicking this link. You have to register before you can post: click the REGISTER link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. View our Forum Privacy Policy.
- Want to receive the latest contracting news and advice straight to your inbox? Sign up to the ContractorUK newsletter here. Every sign up will also be entered into a draw to WIN £100 Amazon vouchers!
Reply to: Official Spring Budget 2024 thread
Collapse
You are not logged in or you do not have permission to access this page. This could be due to one of several reasons:
- You are not logged in. If you are already registered, fill in the form below to log in, or follow the "Sign Up" link to register a new account.
- You may not have sufficient privileges to access this page. Are you trying to edit someone else's post, access administrative features or some other privileged system?
- If you are trying to post, the administrator may have disabled your account, or it may be awaiting activation.
Logging in...
Previously on "Official Spring Budget 2024 thread"
Collapse
-
Originally posted by fiisch View PostI don't think I've ever been so enraged at politics before, but it seems like the Tories have lost the plot, and the available alternatives don't do much to whet the appetite.
Originally posted by fiisch View Post1. Opening with a Muslim War Memorial - really?! The most important economic announcement of the year, discussing how billions of pounds in tax will be collected and how billions of pounds will be spent, and he chooses to open with a £1m installation?! Whatever you think about the value of such an installation, it had no place in a Budget announcement, definitely not at the start - a blatant virtue signal and desperate attempt to appease.
Nice to see who has crawled out of the woodwork to complain about this but not in the way you are doing.
Originally posted by fiisch View Post2. Tax bandings still frozen - ridiculous given subsequent inflation since the decision to freeze was announced (and the one that hurts a lot of people in real terms).
3. NI cut - it'll make little different to PAYE household incomes versus the costs they've had to shoulder. In real terms, it's only the people in the middle (c. £30-50k) who'll keep more of their pay (and only just) when you consider #2.
Originally posted by fiisch View Post4. British ISA - won't happen. The Tories won't get in and this plan will be scrapped, but it's a silly one. Those lucky enough to max out ISAs (about 14% of people who have ISAs) will simply reduce their exposure to UK companies in their main ISA to compensate for their new British ISA. Not sure this will have the desired impact...Originally posted by fiisch View Post5. Child Benefit - A welcome change, but paper over the cracks. Inflation-adjusted, it should be higher (£67k). The move to looking at household v individual income is sensible, but again I suspect the Tories won't be in power long enough to see it through.
Originally posted by fiisch View PostAll fart and no tulip from a party that knows it's on it's way out. I've voted for all three parties before and am not particularly interested in politics, however I've never been so disgusted with how the country is being run. Bah humbug, I'll get off my soap box now...
Leave a comment:
-
I don't think I've ever been so enraged at politics before, but it seems like the Tories have lost the plot, and the available alternatives don't do much to whet the appetite.
1. Opening with a Muslim War Memorial - really?! The most important economic announcement of the year, discussing how billions of pounds in tax will be collected and how billions of pounds will be spent, and he chooses to open with a £1m installation?! Whatever you think about the value of such an installation, it had no place in a Budget announcement, definitely not at the start - a blatant virtue signal and desperate attempt to appease.
2. Tax bandings still frozen - ridiculous given subsequent inflation since the decision to freeze was announced (and the one that hurts a lot of people in real terms).
3. NI cut - it'll make little different to PAYE household incomes versus the costs they've had to shoulder. In real terms, it's only the people in the middle (c. £30-50k) who'll keep more of their pay (and only just) when you consider #2.
4. British ISA - won't happen. The Tories won't get in and this plan will be scrapped, but it's a silly one. Those lucky enough to max out ISAs (about 14% of people who have ISAs) will simply reduce their exposure to UK companies in their main ISA to compensate for their new British ISA. Not sure this will have the desired impact...
5. Child Benefit - A welcome change, but paper over the cracks. Inflation-adjusted, it should be higher (£67k). The move to looking at household v individual income is sensible, but again I suspect the Tories won't be in power long enough to see it through.
All fart and no tulip from a party that knows it's on it's way out. I've voted for all three parties before and am not particularly interested in politics, however I've never been so disgusted with how the country is being run. Bah humbug, I'll get off my soap box now...
Leave a comment:
-
Didn’t see a Daily Mail headline celebrating it but the budget small print assumptions assumes net migration to continue at 400-500k annually and the associated uptick in tax revenue.
Quite astonishing really coming from a party that until recently promised to bring down net immigration to the “tens of thousands” and touted control over immigration to hoodwink millions (including me) into voting for Brexit.
And do keep in mind that the new set of immigrants are very different to the previous ones. Much less likely to ever leave, much less diverse, coming from much poorer countries and with cultures & values that have much less overlap with ours. It’s a cheap way to buy growth for Sunak but stores up terrible problems for the future.
If you’re a young skilled professional with no kids, the world is your oyster and I can’t think of any good reasons (beyond family ties) to cling on to Britain. The UK will always be here and if things ever change, you can always come back.Last edited by sreed; 7 March 2024, 10:49.
Leave a comment:
-
Standard of living falling 15% over the last 2 years, and the taxman squeezing our balls ever harder. Enough to make you wonder if its time to leave this sinking HMS Brittania.
Leave a comment:
-
Originally posted by BigLadFromBeeston666 View PostBritish ISA- Fantastic to have another £5k (£10k if you're (un)fortunately married) to sling in the stock market.
- Sadly, the FTSE / LSE has seriously underperformed over recent years. I'm hoping there's a way to invest creatively here.
- Does this apply to leased vehicles i.e. a company car? Not sure of the impact on us here.
- I haven't done the maths. Is there a rationale now for taking salary and dividends up to £60k? Extra dividend tax sure, but you're keeping a chunk of your child benefit now which you would've previously paid back.
- These have zero impact on us, I assume?
- Currently polishing up my CV in anticipation ^_^
Leave a comment:
-
Although the duty on gin wasn't cut, at least it wasn't increased.
Leave a comment:
-
It might as well not have happened. In fact, it would be better if 99% of budgets hadn't happened. The UK budget process is a weird outlier (not the worst - see the US - but still weird).
Leave a comment:
-
The BISA (BrISA?) is planned for 2025-26, and given the sliver of the population that it may apply to - those who exceed their 20k annual ISA allowance and do so in an S&S ISA as opposed to the more popular Cash ISA - so could well end up as one of those plans that never sees the light of day.
Leave a comment:
-
Originally posted by mogga71 View Post
Why would anybody invest in British Companies though? Their overall stock market performance has been woeful compared to the likes of America....and this is highly likely to continue.
That ended in late 2021 when the BOE raised rates. In the US the markets have recovered to new all time highs while the FTSE 250 is still in a bear market. Because the US government is now borrowing and spending more than $3 Trillion ever year. But that cant last forever.. Its actually insane, they are now adding more to their debt every year than the total uk national debt.Last edited by Fraidycat; 6 March 2024, 17:17.
Leave a comment:
-
Originally posted by sreed View PostLove the additional 5k British ISA allowance. But disappointed that they didn’t call it a Great British ISA. That would’ve been so much better!
Leave a comment:
-
The extra £5k ISA allowance, albeit for British cos only, is welcome - the £20k was already generous compared to many countries i.e. America where they have no tax-sheltered accounts beyond pensions, £25k is even better.
Hunt bigging-up Ben Houchen is a piss-take though - guy has recently been thoroughly exposed by Private Eye for giving away millions worth of public land/contracts to cronies. Business as usual for the party, but at least don't shamelessly mention the guy in a Budget...
Leave a comment:
-
Originally posted by BigLadFromBeeston666 View Post
If you can deal with the absolute insanity of the governance and bureaucracy, the public sector can be lucrative. It's the dealing with the insanity part the leads to atrocious retention. For permies and contractors.
As per the agent, they were swamped with apps for the NHS role! It was remote with rare travel to Leeds compared to 2 days per week in the office for DWP/MOJ (any office for MOJ) but that’s still a big difference to bridge!
Leave a comment:
-
Originally posted by northernladuk View Post
You've not worked on NHS IT gigs before I take it?
Leave a comment:
- Home
- News & Features
- First Timers
- IR35 / S660 / BN66
- Employee Benefit Trusts
- Agency Workers Regulations
- MSC Legislation
- Limited Companies
- Dividends
- Umbrella Company
- VAT / Flat Rate VAT
- Job News & Guides
- Money News & Guides
- Guide to Contracts
- Successful Contracting
- Contracting Overseas
- Contractor Calculators
- MVL
- Contractor Expenses
Advertisers
Contractor Services
CUK News
- Streamline Your Retirement with iSIPP: A Solution for Contractor Pensions Sep 1 09:13
- Making the most of pension lump sums: overview for contractors Sep 1 08:36
- Umbrella company tribunal cases are opening up; are your wages subject to unlawful deductions, too? Aug 31 08:38
- Contractors, relabelling 'labour' as 'services' to appear 'fully contracted out' won't dupe IR35 inspectors Aug 31 08:30
- How often does HMRC check tax returns? Aug 30 08:27
- Work-life balance as an IT contractor: 5 top tips from a tech recruiter Aug 30 08:20
- Autumn Statement 2023 tipped to prioritise mental health, in a boost for UK workplaces Aug 29 08:33
- Final reminder for contractors to respond to the umbrella consultation (closing today) Aug 29 08:09
- Top 5 most in demand cyber security contract roles Aug 25 08:38
- Changes to the right to request flexible working are incoming, but how will contractors be affected? Aug 24 08:25
Leave a comment: